Jamie Dimon Says U.S. Needs 300,000 Skilled Workers to Revive Shipbuilding

JPMorgan Chase Chief Executive Officer Jamie Dimon warned that the United States has fallen significantly behind in shipbuilding and now faces a major shortage of skilled workers, creating opportunities for Americans seeking well-paying, AI-resistant careers, Preston Fore reported for Fortune.

Jamie Dimon pointed out that America's shipbuilding workforce needs to be expanded. (Photo: Lauren Hurley, No 10 Downing Flickr)

"We need 300,000 electricians, welders, etc. to build ships in the next five or 10 years," Dimon told CNBC during an appearance at the Philadelphia Navy Yard.

He said skilled-trades apprenticeships offer workers the opportunity to earn while they train, allowing many to qualify for jobs paying US$80,000 to US$100,000 annually without taking on college debt.

"It fits what we call the American dream: getting kids skills—or all workers' skills—so they have jobs that could pay $80,000, $90,000, or $100,000 a year after just a year or two of training," Dimon said.

"This lifts up America. It helps build the defense industry."

The Philadelphia Navy Yard currently employs about 16,000 workers, but Dimon said that figure could double over the next five years as domestic shipbuilding expands.

To support that growth, JPMorgan announced a US$24 million investment through loans and philanthropic grants to help finance a new submarine manufacturing and assembly facility expected to create 450 permanent jobs.

The funding will also expand workforce training and apprenticeship programs for thousands of prospective welders, electricians, pipefitters, and other skilled-trades workers.